Monday, July 28, 2014

Eric Sprott, James Turk, Dr. Stephen Leeb, & CEO Brendan Cahill (encore)

July 25, 2014

Featured Guests
Eric Sprott, James Turk, Dr. Stephen Leeb, & CEO Brendan Cahill (encore)


James Turk, from GoldMoney.com, co-author of the bestseller: The Money Bubble, returns to the show with an update on gold backwardation. Gold has been back-dated in 90 days out of the past 180 days, an unprecedented event. The last two times something similar occurred (2000 & 2009, approximately), marked the beginning of the most powerful bull runs for gold and silver in decades. The 2008 credit crisis was just the opening salvo, banks are still insolvent, debt continues to pile up; the end result will eclipse the last financial bubble in size and breadth, making real money, gold and silver, necessary components of every investment portfolio.
Best-selling author and head of Leeb's Market Forecast, Dr. Leeb says that once the EU follows in the Fed's footsteps, applying its own version of QE economic-stimulus, the commodities market and the precious metals sector could benefit as investors seek a safe haven to protect their purchasing power. Silver may be down, but not out; the world's shiniest metal will have its day in the sun for a variety of reasons and when it does, it will shine brightly. Investors should diligently observe the escalating tensions in the Middle East, if the balance of power tips abruptly, the event could cause a sea change in the US Dollar's reserve currency status, in turn boosting the prices of crude oil and commodities.
Billionaire-entrepreneur and founder of Sprott Asset Management, CEO Eric Sprott says the official economic numbers are bogus; most people realize they are paying more for life's necessities than reported. Even after spending trillions of taxpayer dollars, the Fed has accomplished little other than put the US further into debtor's prison. Last week, the EU put savings accounts with over 100,000 Euros at risk of confiscation - Eric Sprott says that investors across the pond should be bracing for something similar, unless of course savings are held in physical bullion, coins and bars. But tarry not, according to his research physical demand for gold exceeds global mining output; one nation (China) is consuming all of the gold produced in the entire Western world. Bank trading desks combine their financial clout with the leverage facilitated by paper contracts to manipulate the precious metals markets with impunity. He shares a recent headline story of a homeowner who found a container of gold coins in the backyard worth $30,000 when buried, now worth $10 million, illustrating the safe haven qualities of the yellow metal.
Excellon Resources (tickers: EXN & EXLLF) is a unique mining company, run by CEO Brendan Cahill, that recently earned top scores at Tickerscores.com rating service. Goldseek President, Peter Spina visited the firm; to say that he was impressed is an understatement. Precious metals virtually flow from the ore at the La Platosa mine, which is the highest-grade silver producer in Mexico, a country known for its silver production. In addition, it is one of the lowest-cost operations, nationwide. Top institutional investors such as Sprott Asset Management own a sizable position in Excellon shares, giving investors the peace of mind of knowing that the smart money has faith in corporate management and future prospects.

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John Embry & Professor Laurence J. Kotlikoff

John Embry & Professor Laurence J. Kotlikoff
(alphabetical order)
Boston University economics professor and author of the new bestseller The Clash of Generations, Dr. Kotlikoff says that every investor must own precious metals, given his finding that the official $17.6 trillion dollar national debt figure is laughable, merely a rounding error of the true figure. In fact, the actual national debt is nearly 13 times bigger, $225 trillion when unfunded liabilities are included. A few brave members of Congress have addressed the domestic Ponzi scheme (like Dr. Ron Paul) but subsequently watched their financial support evaporate making reelection prospects challenging. America is facing an employment crisis as well; underemployment remains a key stumbling block to prosperity and the American Dream. Dr. Kotlikoff insists that our officials can solve the dilemma by getting the fiscal house in order and by fixing the education system via reduction of class sizes to facilitate teaching through individualized learning. Due to malfeasance within the SIPC insurance program, no brokerage account is safe. Dr. Kotlikoff won't open a brokerage account because any funds withdrawn over the past six years are now liable to confiscation, putting every American investor at risk. Put simply, due in no small part to the Madoff scandal, any funds an investor unwittingly spends from a personal brokerage account is exposed to SIPC law suits for the next six years. Other than precious metals, the professor shares several ideal alternatives to domestic securities, for avoiding the duel threats of fiscal irresponsibility and confiscation.
The Chief Investment Strategist at Sprott Asset Management for over a decade, John Embry sees important signs that the precious metals market has bottomed, including the accelerating gold shortage, which will ultimately culminate with a disconnect between the paper and physical markets. The rumors are true, there's little to no available bullion available in sovereign vaults (unencumbered, not leased / swapped), the gold has been rehypothecated, as evidenced by the inability for the Bundesbank to repatriate even a tiny fraction of their reserves from Fort Knox. Canada's banking system is the envy of much of the Western world, nevertheless he draws the starling inference that the recent legislation putting savers at risk for financial shortfalls suggests that officials are bracing for a Noah's flood sized financial deluge. The preponderance of evidence / data suggest that the greatest risk facing North America is a currency crisis, where the US dollar suddenly loses it's reserve status and plunges below long-term support, further eroding purchasing power just when household budgets are already stretched beyond the breaking point, held together by credit card liquidity. He throws listeners a life preserver in the form of two of his favorite precious metals stock ticker symbols, including Lake Shore Gold: LSG (Disclosure: goldseek.com employees may own shares) with phenomenal prospects. But the exciting news is for silver investors - bears have shorted an entire year of silver mining output, a fact that could propel the price far beyond the 2011 peak of $50 and into the stratosphere, perhaps as high as the inflation adjusted price of $150 as billions of investors cogitate the ramifications of the imminent global currency reset. So how much gold / silver / shares is enough for the typical investor? Portfolios require a precious metals allocation of at least 20-25%.

Show Host
Chris Waltzek:
About Chris
Contact Host:
gsradio@frontier.com

Please listen here:

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http://silverinvestor.blogspot.com/